Ratings. Guidance. The Right Lawyer.
Stepmother is trustee and sole beneficiary of father's irrevocable trust til she dies. What is her fiduciary resp. to heirs?
Arcata, CA
Viewed 39 times.
Posted 19 days ago in Trusts
Flag as objectionable
As the sole beneficiary til her death, does the trustee have any responsibility to manage the trust in a way that benefits the future heirs? There is a QTIP in which a decedent's trust will merge with spousal trust, and my father told me the decedents trust should grow so that there is enough to pay taxes on estate (mostly real estate which cannot be bought or sold without co-trustee's signatures - otherwise, co-trustees have no power.)
We believe she is not managing decedents trust properly, she is taking income from it, so it is not growing. She has gone into assisted living facility, refuses to communicate, and appears to be very paranoid. Pretends not to know who I am when I call. Her daughter is managing trust business, although my sister is next in line as trustee. What can we do? - Is this your question? Add additional information Answers (1)
Janet Lee Brewer
|
